When paying for advice, make sure your Advisor knows more than you do!

Part of my role as co-host of Location Location Location Australia is to promote the advantages of engaging a buyers’ agent.  But I must stress that not all buyers agents are equal.

racefinishI have recently heard about a few other “buyers agents” or so called advisors,  offering to negotiate for a pretty cheap fee.  And I discovered that they do no pricing research or strategy development.  Without knowledge of value how on earth can they effectively negotiate?  It is like bidding at auction without understanding price or strategy. It simply means the person with the deepest pockets buys the property.  You could do that yourself.  You don’t need to pay someone else to overpay for a property.  And if you haven’t overpaid, that’s just good luck.

Once again you could have done that yourself.

The value-add with an experienced and accomplished buyers agent is that you are given an insight into what constitutes a quality property in the first place.  Then a detailed price analysis will give you confidence to pay a certain price and also to know what is too much. And market knowhow and strategy formulation will ensure tactically you have the best opportunity for success.

A good buyers agent will know how to strike and when.